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Assume that four mineral water producers compete in prices in a Bertrand setting. The firms differ with respect to their costs. Firm A's marginal cost per ton is 8 $, firm B's is 7 $, firm C's is 9 $, and firm D's is 7.50 $.
a) Which firm will serve the market? What price (approximately) will it charge?
b) Would your answer change if firms A and B had somewhat greater fixed costs of production than firms C and D? Justify your answer in less than 80 words.
determine the amount of producer surplus generated in each of the following situations.a dustin tries to sell his old
If the government imposes a $1 per-unit tax, how do the marginal, average total, and average variable costs change? What if instead the government imposes a $100 per-firm tax?
bull assume that you were recently hired by a marketing research company.bull you are assigned to a research team to
Analyze the impact of the selected domestic issue to the economy and suggest how the negative impact of the issue can be minimized. Provide support for your rationale.
Compute the expected value and the standard deviation of this investment. Is this investment risky? Why? The equation E(x)=359 + 0.5SD describes the indifference curve of this investor. Is this investor risk averse, risk neutral, or risk loving? ..
Alice and Bob survive on hamburgers and salads. Alice's utility function
Two firms face the demand equation given by P=200,000 -6(Q1 + Q2) where Q1 and Q2 are the outputs of two firms. The total cost equations for two firms are given by: TC1 = 8000Q1 and TC2 = 8000Q2.
consider that mcds big mac hamburgers are goods. how does and increase in consumers income affect the demandfor mcds
As long as there are barriers to entry, a monopoly can always find some price-output combination that generates positive economic profits. As long as the demand curve slopes down, a monopoly can always find some price-output combination that genera..
Explain why a government might want to regulate a monopolist and How can governments negate the adverse side-effects of gold-plating and cost padding?
Does economic theory indicate that an ideal regulatory agency that forces a monopoly to charge a price equal to either marginal or average total cost will improve economic efficiency Does economic theory suggest that a regulatory agency
"Suppose Y = $200, C = $140, G = $25, x-m = -5, and T = $25. What is Sp? What is I?" Here is the answer:Yd = Y - T | C + Sp = Y - T | Sp = Y - T - C,Sp = Y - C - T = 200 - 25 - 140 = $35,I = Sp + (T - G) + (x-m) = $35 I = $35 + 0 - 5 = $30
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